Six Flags Noteholders Renew Push For Their Plan

Law360, New York (February 17, 2010, 3:47 PM EST) -- A group of noteholders has renewed its attempt to set the terms of bankrupt amusement park operator Six Flags Inc.'s restructuring, saying the debtor's plan will not pass muster as is.

Judge Christopher Sontchi should shorten Six Flags' exclusivity period if it insists on pushing forward with an “unconfirmable” plan, the noteholders said in an objection filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware.

Known as the “SFI noteholders,” the group includes investment firms Stark Investments and Credit Suisse Securities LLC and...